Government Property Disposition

Pursuant to a legislative requirement, GAO reviewed the proposed establishment of a single federal agency to sell and dispose of real property owned or held by several federal agencies. GAO noted that: (1) barriers to consolidating property disposal activities include conflicting legislative requirements and agency missions, nonuniform property disposal practices and procedures, and the lack of support for making changes; (2) the need for consolidation could be mitigated if agencies continue their cooperation and coordination efforts; (3) a Treasury-initiated project to improve customer service, reduce costs, apply consistent asset management practices, and develop a single asset disposition information system has helped project participants realize higher sales prices and saved $200,000 per combined sales and marketing event; (4) most respondents who use the housing opportunities hotline find it helpful, but some agencies' views of the hotline are mixed; (5) a Resolution Trust Corporation clearinghouse has facilitated the sale of over 100 special resource properties to public agencies and nonprofit organizations; and (6) steps to improve cooperation and coordination in federal property dispositions include joint marketing and sale of properties, streamlining agencies' property disposition procedures, and establishing clearinghouses to maintain central inventories of available properties and assist selling agencies and prospective purchasers.